Removing Barriers Blog

Clinton Campaign Platform Includes Regulatory Relief
Posted September 06, 2016 by CUNA Advocacy

The Hillary Clinton campaign recently unveiled a proposal to jump start small business startups, growth and job creation that includes plans to “(s)treamline regulation and cut red tape” for credit unions and community banks. Calling them “the backbone of small business lending in America,” Clinton said that reducing small lenders’ burdens would improve much ­needed access to credit for the nation’s small businesses, which create around two­-thirds of new American jobs. 

In a post on the Clinton campaign website, the Democratic presidential nominee says her new proposals reflect the concerns of small businesses across the country, including declining access to credit. She notes that small business loans comprised just 29% of total bank loans in 2012, as compared with 51% in 1995.

An expanded factsheet details policies that support credit unions and suggest regulatory relief. Among the proposed ideas that specifically mention credit unions are:

  • Curtailing regulatory “creep” by ensuring credit unions and smaller financial institutions are “only subject to rules that make sense for their size and mission;” and
  • Coordinating state and federal examinations, including flexible exam schedules for healthy credit unions.

CUNA President/CEO Jim Nussle, while noting that CUNA does not endorse a candidate in any presidential election, applauded the Clinton campaign for recognizing the importance of small financial institutions like credit unions to the nation’s job creators.